Items Tagged with 'reverse mortgage lending'

ARTICLES

  • Reverse mortgage industry reacts to FHA’s hint at future policy changes

    Last week’s actuarial report suggests more change is on the horizon
    Last week, FHA’s 2018 Report to Congress revealed the HECM portfolio’s continued drain on the MMI Fund. While the agency said it was optimistic past policy changes would improve the program, it also suggested more change is coming for HECMs. While this wasn’t exactly welcome news for an industry that can’t seem to catch its breath, reverse execs offered a measured response to FHA’s report.
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  • Reverse Mortgage Funding: More financial advisors are recommending HECMs

    Lender ramps up education to help partners connect with advisors
    The reverse mortgage industry has been working for years to connect with financial advisors to teach them about the valuable role home equity can play in retirement income planning. Now, leading HECM lender Reverse Mortgage Funding says the effort is finally paying off. RMF says it has seen a significant uptick in interest from advisors and its investing sizable resources into helping its originators build this channel of business.
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  • Reverse mortgage market closes out October with positive gains

    But analyst warns recovery will be slow and uneven
    Reverse mortgage volume inched upward last month, continuing its uneven road to recovery after a rough year. According the latest HECM Lenders report from Reverse Market Insight, endorsement volume rose 7.3% in October to 3,091 loans. "We are expecting a very slow and lumpy growth for the foreseeable future in HECM volumes," said RMI President John Lunde.
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  • Proprietary reverse mortgages essential to helping more homeowners access equity

    Expert panel predicts more products will emerge to fill HECM's void
    Proprietary reverse mortgages are key to helping American homeowners unlock the wealth in their homes, and we'll likely see more of them come to market, said panelists at NRMLA's annual meeting on Monday. "Ultimately, what we're trying to do is create solutions for borrowers and give them flexibility and choice," said Jonathan Scarpati, vice president of wholesale at Finance of America Reverse.
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  • Here are the top 10 reverse mortgage lenders

    And these are the different approaches they’re taking to survive the down market
    The reverse mortgage industry has taken a bit of a beating in the past year following significant program changes from HUD, but HECM lenders are nothing if not resilient. We’ve compiled a list of the top 10 players in the space and a summary of the approach each has taken to stay afloat in the current climate.
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  • Should you use home equity to delay Social Security?

    The CFPB warned against it, but experts say it works
    For some time, reverse mortgage lenders touted a strategy that involves obtaining a HECM early on in retirement in order to delay taking Social Security, therefore maximizing its benefit. But then the CFPB issued a warning against it. Now, retirement researchers and financial advisors say the strategy still has real merit, but suitability depends on a case-by-case basis.
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  • HECM mortgage-backed securities see $1 billion decline

    HMBS float continues to shrink thanks to record payoffs and low origination volume
    The latest data on HECM mortgage-backed securities reveals issuance is down in the third quarter to $1.7 billion – that’s about a billion less than totals from the previous two quarters. In a recent report, New View Advisors says the industry shouldn't expect this to turn around any time soon as low origination volumes challenge the space.
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  • It’s been one year since HUD shook up the reverse mortgage industry

    With 10/2 program changes firmly in the rearview, how did the industry fare, and what’s ahead for players in the space?
    Tuesday marked exactly one year since HUD implemented HECM program changes in a move that took lenders by surprise and drastically impacted the reverse mortgage business. It’s been a rocky year as originators attempted to adjust to the new normal, and it seems no one got out unscathed. Will product innovation help the industry find its footing, or will another round of program changes knock it off its feet?
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  • Reverse Mortgage Funding focuses on growing TPO business

    “We are 100% dedicated to this space and we’re not going anywhere.”
    Founded in 2014, New York-based Reverse Mortgage Funding hasn’t been around as long as the other leading HECM lenders, but that hasn’t stopped it from staking its claim on the top lender list. To retain its foothold, RMF is diving deep into its third-party origination business, funneling sizable resources into providing a holistic service to its brokers and principal agents.
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